Consecutive Rate Cuts By RBI To Help Revive Consumer Demand Says Mahindra's Veejay Nakra

Speaking to Business Today TV,  Veejay Nakra mentioned that the Prime Minister was delighted and proud of M&M's achievements EV Milestone. According to Nakra, the solution to both mobility and environmental concerns lies in electric vehicles.

However, he pointed out certain headwinds that need addressing, such as the stabilization of interest rates and easier access to finance for consumers. He emphasized the critical role of non-banking financial companies (NBFCs) in providing the necessary financial support. It’s crucial that the funds reach consumers, enabling them to make purchases. In terms of future growth, Nakra suggested that consecutive drops in interest rates could positively impact consumer spending and growth. He also noted a shift in the market towards micro SUVs, especially in the context of smaller passenger vehicles (PV), indicating a growing trend in this direction.